Loans (Repealed)

(a) A loan issued by the Authority may be secured or unsecured as the Authority or the Committee of the Authority determines to be appropriate in the particular circumstances. If the loan is to be secured, the Authority or said Committee of the Authority may require the borrower to provide the Department as security any or all of the following: real property, accounts, chattel paper, letters of credit, insurance documents, instruments, general intangibles, goods, equipment, inventory or other personal property, and may further require the borrower to have executed and delivered to the Department security agreements, financing statements, mortgages, pledges, assignments, subordinations, guarantees or other documents or evidences of security or delivery as and in the form required by the Authority or said Committee of the Authority. (b) The loan shall be repaid by such method of payment of principal and interest as the Authority or the Committee of the Authority considers necessary and appropriate in the particular circumstances, but in no event shall the payments be scheduled to exceed 180 days from the date of disbursement of the loan.